Hot metal prices have given 'scrap' a whole new meaning. Stainless-steel scrap – an alloy of nickel, chrome and iron – is being snapped up and recycled at a record pace, driven by steep prices of raw metals and blistering demand from China. The benchmark three-month price of nickel on the London Metal Exchange (LME) is currently at $13,500 a metric ton. Stainless-steel scrap prices are currently at the US$ 1,400-1,500 level.
The currently wide discount for stainless-steel scrap compared to ni